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What was the total liabilities for All Team as of December 31, 2023?

All_Team Franchise · 2025 FDD

Answer from 2025 FDD Document

he audit.

Tampa, Florida March 24, 2025

ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS

AS OF DECEMBER 31, 2024 AND 2023

2024 2023
CURRENT ASSETS
Cash $ 629,272 $ 1,015,879
Accounts receivable-trade, pledged, 589,672 1,075,420
less credit losses of $63,416 and $57,416, respectively
Advances to related parties 1,526,254 1,091,453
Prepaid expenses 81,663 20,368
Due from IRS - 49,780
Total Current Assets 2,826,861 3,252,900
PROPERTY AND EQUIPMENT, net - -
OTHER ASSETS
Operating lease right-of-use assets 90,309 143,935
Deposits 34,537 34,537
Intangible assets 61,329 61,329
Total Other Assets 186,175 239,801
TOTAL ASSETS $ 3,013,036 $ 3,492,701
CURRENT LIABILITIES
Accounts payable - trade $ 2,646 $ 3,528
Due to stockholder 14,772 39,378
Current maturity of operating lease liability 58,709 53,626
Credit line payable 859,983 1,321,084
Accrued expenses 124,879 231,956
Other funding liabilities 1,133,303 919,887
Total Current Liabilities 2,194,292 2,569,459
LONG TERM LIABILITY
Operating lease liability, net of current maturity 31,600 90,309
Total Long-Term Liability 31,600 90,309
Total Liabilities 2,225,892 2,659,768
STOCKHOLDER'S EQUITY
Common stock - $1 par value;

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)

What This Means (2025 FDD)

According to All Team's 2025 Franchise Disclosure Document, the company's total liabilities as of December 31, 2023, were $2,659,768. This figure represents the sum of all current liabilities and long-term liabilities that All Team owed to various creditors and other parties at that specific point in time. Current liabilities, which are obligations due within one year, totaled $2,569,459, while long-term liabilities amounted to $90,309.

Breaking down the current liabilities, the most significant components included a credit line payable of $1,321,084 and other funding liabilities of $919,887. Other notable current liabilities were accrued expenses of $231,956, due to stockholder of $39,378, current maturity of operating lease liability of $53,626 and accounts payable of $3,528. The long-term liability consisted of the operating lease liability, net of current maturity, which was $90,309.

For a prospective franchisee, understanding All Team's liabilities is crucial as it provides insight into the company's financial health and stability. A high level of liabilities compared to assets could indicate potential financial strain, which might affect the franchisor's ability to support its franchisees. Conversely, manageable liabilities suggest a stable financial foundation, increasing the likelihood of continued support and growth. Therefore, a potential franchisee should analyze these figures in conjunction with All Team's assets, equity, and overall financial performance to assess the risk and opportunity associated with investing in the franchise.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.